PITTSBURGH PAINT AND GLASS 9 1 N O R T H B R O O K W O O D A V E N U E , H A M I L T O N O H 4 5 0 1 3
WHOLLY OWNED SUBS ID IARY OF PPG CORPORATE - C INC INNAT I MSA
Brent L.Hensley | 760-452-2401 | [email protected] N. Coast Hwy 101, Encinitas , CA 92024
Net Operating Income: $55,155Price Per Square Foot: $234.40Lease Commencement Date: 7/1/2014Lease Expiration Date: 6/30/2024Lease Type: NNNIncreases: 10% Each OptionOptions: (2), 5 YearsGuarantor: PPG Architectural
Finishes, Inc.Rentable Square Feet: 3,677 SFLot Size: .33 AcresYear Built: 2014
91 North Brookwood Avenue, Hamilton, OH 45013
investment overview
address
PURCHASE PRICE | $1,000,000 | CAP RATE | 5.52%
investment overview
The subject property is a 3,677 square foot faci l i ty. This is
a NNN lease guaranteed by a whol ly owned subsidiary of
PPG Corporate.
The property is located within a dense retai l area surrounded
by 45 plus nat ional retai lers including a Walmart Supercenter,
Lowe’s, Mei jer, Kroger, CVS Pharmacy, Texas Roadhouse,
Applebee’s, Burger King, Taco Bel l , Planet Fitness, KFC,
Dol lar General, Great Cl ips, Long John Si lver’s, Arby’s, H&R
Block, Wendy’s, Jimmy Johns, Planet Fitness, Key Bank,
Al lstate, Steak n Shake, Bob Evans, and more.
More than 20,000 cars drive nearby the property each
day, with easy access to Highway 177. The average
household income exceeds $70,000 and the city is located
within Cincinnat i ’s Greater Metropol i tan Area with an MSA
populat ion exceeding 2 mi l l ion.
rent roll
overview
TENANT NAME
SQUARE FEETCOMMENCEMENT
DATELEASE
EXPIRATIONANNUAL BASE
RENTDATE ANNUALLY
LEASE TYPE
PPG architectural finishes, INc.
3,677 7/1/2014 6/30/2024 $55,1557/1/20247/1/2029
$60,070$66,738 (2) 5 Yr NNN
10% Annual Rent Increases In Each Opt ion
TENANT INFO lease terms current rent rent increases options lease type
NOTE: Land lo rd covers Taxes , CAM’s and Insurance Cos ts . Tenan t re imburses month ly w i th ren t .
investment overview
highlights
STRONG GUARANTEENNN Lease Backed by a Whol ly Owned Subsidiary of PPG Corporat ion
GREAT MSA LOCATIONLocated within the Cincinnat i , Ohio MSA with a Populat ion Exceeding Two Mi l l ion
HIGHWAY VISIBILITYLocated Direct ly off of Highway 177 with Dai ly Traff ic Counts Exceeding 20,000 Vehicles Per Day
DENSE RETAIL LOCATIONWithin Close Proximity to More Than 45 National Retai lers Including a Walmart Supercenter, Lowe’s, Mei jer, Kroger, CVS Pharmacy, Texas Roadhouse, Jimmy Johns, O’Rei l ly Auto Parts, Pizza Hut, Burger King, Wendy’s, Taco Bel l , H&R Block, KFC, Dol lar General, Great Cl ips, Long John Si lver’s, Arby’s and Applebee’s, Key Bank, Al lstate, Steak n Shake, Bob Evans, and more.
AFFLUENT LOCAL AREAAverage Annual Household Incomes are Close to $70,000 Per Year
URGENT CARE OF HAMILTON
Pittsburgh paint and glass
HAMILTON HIGH SCHOOL
AMC THEATER
MCDONALD’S
N
S
Ew
HIGHWAY 177
N. BROOKWOOD AVENUE
N . wa s h i n g t o n b lv d
BURGER KING
JIMMY JOHN’S
retail mapaddress | 91 N. Brookwood AvenueHamilton, OH 45013
traffic counts |21,514 VPD - Highway 177 | 2014
Highway 129 is an east-west highway running through Hamilton, Ohio, converging with Highway 177 at the city center. Highway 127 runs north-south and is Hamilton’s main thoroughfare through town.
LOUISVILLE
CINCINNATI
INDIANAPOLISCOLUMBUS
FORT WAYNE
ST. LOUIS
CHARLESTON
HAMILTON
property location
location
PPG INDUSTRIES, INC. 9 1 N . B R O O K W O O D A V E N U E
8 8
major employers
2010
2014
2019
population |
10,603 50,186 87,384
10,659 50,789 88,303
10,877 51,216 90,297
$53,908 $57,214 $71,130
$41,147 $43,408 $56,342
AVERAGE
MEDIAN
household INCOMES 2014 |
employers
1 MILES
3 MILES
5 MILES
P A R K H I L L S C U L P T U R E P A R K A N D M U S E U M - HA M I L T O N , OH I O -
*Sourced from MapNet, Marcus & Millichap
But ler County
Fort Hami l ton Hospi ta l
Hami l ton Ci ty School D ist r ic t
Communi ty F i rs t So lut ions (Headquarters )
C i ty of Hami l ton
ThyssenKrupp Bi ls te in of Amer ica (Headquarters )
Miami Un ivers i ty
Bethesda But ler Hospi ta l
Va leo Cl imate Contro l
F i rs t F inanc ia l Bank
1,500
1,000
1,000
700
600
550
400
245
235
230
HAMILTON
3 Miles 5 Miles 10 Miles
1 Miles 3 Miles 5 Miles
PPG INDUSTRIES, INC. 9 1 N . B R O O K W O O D A V E N U E
area overview
hamilton OHIO
H a m i l t o n i s a c i t y i n a n d t h e c o u n t y s e a t o f B u t l e r C o u n t y , O h i o , w i t h a p o p u l a t i o n e x c e e d i n g 5 0 , 0 0 0 a n d i s p a r t o f t h e G r e a t e r C i n c i n n a t i M e t r o A r e a w i t h p o p u l a t i o n o f 2 , 2 1 4 , 9 5 4 ( 2 0 1 4 ) .
T h e c i t y h a s a l e g a c y o f a r c h i t e c t u r a l a n d h i s t o r i c d i s t r i c t s i n c l u d i n g D o w n t o w n , R o s s v i l l e , D a y t o n L a n e , a n d G e r m a n V i l l a g e . T h e c i t y a l s o o f f e r s s e v e r a l u n i q u e m u s e u m s , s u c h a s , t h e S o l i d e r s a n d S a i l e r s M o n u m e n t a n d t h e 2 6 5 - a c r e P y r a m i d H i l l S c u l p t u r e P a r k a n d M u s e u m w h i c h b o a s t s o f m o r e t h a n 8 0 d i f f e r e n t a r c h i t e c t u r a l s c u l p t u r e s ,
H a m i l t o n i s h o m e t o M i a m i U n i v e r i s t y , a l s o k n o w n a s “ t h e Y a l e o f t h e W e s t ” . I t b o a s t s a s t u d e n t b o d y o f n e a r l y 5 , 0 0 0 a t i t s m a i n c a m p u s d o w n t o w n a n d 2 , 7 0 0 s t u d e n t s a t i t s n e a r b y M i d d l e t o w n c a m p u s . M i a m i i s o n e o f t h e t o p f i v e p u b l i c / p r i v a t e s c h o o l s n a t i o n a l l y . I t i s t h e s e c o n d b e s t p u b l i c s c h o o l i n t h e U . S . i n t h e c a t e g o r y o f “ S t r o n g C o m m i t m e n t t o U n d e r g r a d u a t e T e a c h i n g ” .
H a m i l t o n i s h o m e t o m o r e t h a n 2 m i l l i o n w o r k e r s w h o l i v e i n t h e G r e a t e r C i n c i n n a t i a n d G r e a t e r D a y t o n m e t r o p o l i t a n a r e a s . R e c e n t l y , O h i o , K e n t u c k y a n d G r e a t e r C i n c i n n a t i h a v e b e e n r a n k e d a t t h e t o p o f S i t e S e l e c t i o n m a g a z i n e ’ s a n n u a l r a n k i n g s o f n e w e c o n o m i c d e v e l o p m e n t p r o j e c t a n n o u n c e m e n t s . T h e C i t y o f H a m i l t o n h a s a v a r i e t y o f e c o n o m i c d e v e l o p m e n t i n c e n t i v e s f o r b u s i n e s s e s l o o k i n g t o m a k e i n v e s t m e n t s i n t h e c o m m u n i t y . W h e t h e r s m a l l o r l a r g e , t h e C i t y o f H a m i l t o n p a r t n e r s w i t h J o b s O h i o t o c r e a t e a n i n c e n t i v e p a c k a g e t o f i t t h e b u s i n e s s n e e d s .
| Downtown Hamilton, Ohio
| Miami University, Oxford, Ohio
L e s s t h a n a 2 0 - m i n u t e d r i v e , H a m i l t o n i s w i t h i n c l o s e p r o x i m i t y t o C i n c i n n a t i ’ s o f f e r i n g s . C i n c i n n a t i i s o n e o f o n l y 1 3 U . S . c i t i e s w i t h a l l f i v e a r t s : b a l l e t , o p e r a ,f i n e a r t m u s e u m s , s y m p h o n y a n d t h e a t e r . T h e c i t y i s a l s o h o m e t o t h e n a t i o n ’ sf i r s t p r o f e s s i o n a l b a s e b a l l t e a m , t h e C i n c i n n a t i R e d s , a n d N F L t e a m , t h e C i n c i n n a t iB e n g a l s . O t h e r m a j o r a t t r a c t i o n s i n c l u d e K i n g I s l a n d , t h e l a r g e s t a m u s e m e n t a n dw a t e r p a r k i n t h e M i d w e s t , E n s e m b l e T h e a t r e C i n c i n n a t i , t h e U S I T T C o n f e r e n c e a n dS t a g e E x p o a t t h e D u k e E n e r g y C o n v e n t i o n C e n t e r , a n d F i n d l a y M a r k e t , O h i o ’ so l d e s t o p e r a t i n g m a r k e t .
T h e c i t y o f C i n c i n n a t i i s w e l l p o s i t i o n e d f o r e c o n o m i c g r o w t h , w i t h a 9 . 6 % p e r c e n t g r o w t h i n 2 0 1 4 , r e s u l t i n g i n t h e c r e a t i o n o f a p p r o x i m a t e l y 1 0 3 , 6 0 0 n e w j o b s . O h i o ’ s f a v o r a b l e b u s i n e s s c l i m a t e a n d h i g h q u a l i t y o f l i v i n g , c o m b i n e d w i t h l o w b u s i n e s s a n d p e r s o n a l c o s t s , m a k e t h e s t a t e a n i n c r e a s i n g l y v i a b l e l o c a t i o n f o r b u s i n e s s g r o w t h . E n t r e p r e n e u r M a g a z i n e r a t e d C i n c i n n a t i o n e o f t h e T o p 2 0 m a r k e t s f o r e n t r e p r e n e u r s h i p a n d “ B e s t b e t f o r l o w e s t f a i l u r e r a t e . ”
C i n c i n n a t i i s w e l l k n o w n f o r i t s e s t a b l i s h e d k e y s e c t o r s - A e r o s p a c e , A u t o m o t i v e , C h e m i s t r y & P l a s t i c s , a n d F i n a n c i a l S e r v i c e s . T h e s e c o m p a n i e s s e r v e a s t h e b a c k b o n e f o r t h e C i n c i n n a t i e c o n o m y a n d i t s c o n t i n u e d g r o w t h . A d v a n c e d E n e r g y , C o n s u m e r P r o d u c t s & C r e a t i v e S e r v i c e s , I n f o r m a t i o n T e c h n o l o g y , a n d L i f e S c i e n c e s i n d u s t r i e s h a v e g r o w n t o b e c o m e k e y c o m p o n e n t s i n t h e c o n t i n u i n g e v o l u t i o n o f C i n c i n n a t i ’ s e c o n o m y . F i f t h T h i r d B a n c o r p , W e s t e r n S o u t h e r n F i n a n c i a l G r o u p a n d A m e r i c a n F i n a n c i a l G r o u p a r e h e a d q u a r t e r e d i n d o w n t o w n C i n c i n n a t i . P N C a n d U . S . B a n k a l s o h a v e a m a j o r p r e s e n c e d o w n t o w n , w h i l e B a r r P h a r m a c e u t i c a l s , I n c . , K a o B r a n d s , G i v a u d a n F l a v o r s C o r p . , a n d S u n C h e m i c a l a r e l e a d e r s i n t h e c h e m i c a l /p l a s t i c s i n d u s t r i e s .
I n a d d i t i o n t o C i n c i n n a t i ’ s K e y S e c t o r s , t h e c i t y p r o f i t s f r o m a r o b u s t a n d d i v e r s e I T e c o s y s t e m w i t h a s t r o n g n e t w o r k o f h i g h l y - r a t e d a c a d e m i c i n s t i t u t i o n s , a b r e a d t h o f g l o b a l I T s e r v i c e p r o v i d e r s , w o r l d c l a s s i n f r a s t r u c t u r e , p a s s i o n a t e a n d e n g a g e dI T l e a d e r s h i p , a s w e l l a s , n i n e F o r t u n e 5 0 0 a n d f o u r F o r t u n e 1 0 0 0 c o m p a n i e s . I nt h e I T f i e l d , t h e r e a r e a n e s t i m a t e d 1 5 , 0 0 0 I T - r e l a t e d j o b s i n C i n c i n n a t i a n d a na d d i t i o n a l 1 5 , 0 0 0 j o b s i n t h e b u s i n e s s p r o c e s s - o u t s o u r c i n g ( B P O ) i n d u s t r y .
t o p f o r t u n e 5 0 0 c o m pa n i e s :
1. The Kroger Co.
2. American Financial Group
3. Macy’s Inc.
4. Ashland, Inc
5. Omnicare
6. Fifth Third Bancorp
7. Procter & Gamble
8. General Cable
9. Western & Southern Financial
t o p f o r t u n e 1 0 0 0 c o m pa n i e s :
1. Cincinnat i Financial
2. Cintas
3. Convergys
4. Vant iv
cincinnati OHIO area overview
| Duke Convention Center
| Great American Ball Park - Cincinnati Reds
| King Island Amusement and Waterpark
tenant overview
T h e l e a s e i s G u a r a n t e e d b y P P G A r c h i t e c t u r a l F i n i s h e s , I n c . , a w h o l l y o w n e d s u b s i d i a r y
o f P P G I n d u s t r i e s .
P P G I n d u s t r i e s i s a n A m e r i c a n g l o b a l s u p p l i e r o f p a i n t s , c o a t i n g s , o p t i c a l p r o d u c t s ,
s p e c i a l t y m a t e r i a l s , c h e m i c a l s , g l a s s , a n d f i b e r g l a s s . W i t h h e a d q u a r t e r s i n P i t t s b u r g h ,
P e n n s y l v a n i a , P P G o p e r a t e s i n m o r e t h a n 7 0 c o u n t r i e s a r o u n d t h e g l o b e . S a l e s i n 2 0 1 4
w e r e $ 1 5 . 1 4 b i l l i o n . I t i s h e a d q u a r t e r e d i n P P G P l a c e , a n o f f i c e a n d r e t a i l c o m p l e x i n
d o w n t o w n P i t t s b u r g h , a n d i s k n o w n f o r i t s g l a s s f a c a d e d e s i g n e d b y P h i l i p J o h n s o n .
| NUMBERS TO KNOW
CLICK FOR MORE DETAILS ON PPG’S SECOND QUARTER NET
SALE/EARNINGS REPORT
NYSE:PPG
• S e c o n d q u a r t e r n e t s a l e s i n c r e a s e d 8 p e r c e n t i n l o c a l c u r r e n c i e s v e r s u s p r i o r y e a r
• N e t s a l e s i n c r e a s e d a b o u t 1 p e r c e n t v e r s u s p r i o r y e a r i n c l u d i n g u n f a v o r a b l e f o r e i g nc u r r e n c y t r a n s l a t i o n
• A d j u s t e d e a r n i n g s p e r d i l u t e d s h a r e f r o m c o n t i n u i n g o p e r a t i o n s o f $ 1 . 6 7 g r e w 1 8p e r c e n t y e a r - o v e r - y e a r
• P r e v i o u s l y a n n o u n c e d b u s i n e s s r e s t r u c t u r i n g r e c o r d e d d u r i n g s e c o n d q u a r t e r
• C a s h d e p l o y m e n t c o n t i n u e d ; p u r c h a s e p r i c e o f a c q u i s i t i o n s c l o s e d o r a n n o u n c e d t o t a la b o u t $ 4 0 0 m i l l i o n a n d s h a r e r e p u r c h a s e s t o t a l $ 3 5 0 m i l l i o n y e a r - t o - d a t e
• C a s h a n d s h o r t - t e r m i n v e s t m e n t s t o t a l e d a p p r o x i m a t e l y $ 1 . 2 b i l l i o n a t q u a r t e r - e n d
P P G R e p o r t s R e c o r d S e c o n d Q u a r t e r N e t S a l e s a n d E a r n i n g s P e r S h a r e